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    U.S. personal spending rises 0.1% in February | 30.03.2015

     

    The U.S. Commerce Department released personal spending and income figures on Monday. Personal spending was up 0.1% in February, missing expectations for 0.3% gain, after a 0.2% fall in January.

     

     

    Consumer spending makes more than two-thirds of U.S. economic activity.

     

     

    The increase was driven by higher spending on services. Spending on services gained 0.2% in February. Higher heating bills may lead to the increase.

     

     

    Spending on goods fell 0.1% in February.

     

     

    Personal income climbed 0.4% in February, exceeding expectations for a 0.3% increase, after a 0.4% rise in January. January's figure was revised up from a 0.3% gain.

     

     

    The personal consumption expenditures (PCE) price index excluding food and energy rose 0.1% in February, in line with expectations, after a 0.1% rise in January.

     

     

    On a yearly basis, the PCE price index excluding food and index rose 1.4% in February, after a 1.3% increase in January.

     

     

    The PCE index are below the Fed's 2% inflation target. The PCE index is the Fed's preferred measure of inflation.


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